BTC had a mild retracement this morning. We broke a mid term descending trend line which was the top bound of a consolidation. This is a sign of mid term strength. We retraced to the top of this descending trend line, which is a typical re-test of the top bound of such a consolidation. For now, price is holding at this line, but I will not make any moves based on this theory until I see another candle or two on the 3 hour time frame or higher.
I have also included an Ichimoku analysis based on the Kijun-Sen. This would indicate we may see a small bump upward sometime within the next few days.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
I have also included an Ichimoku analysis based on the Kijun-Sen. This would indicate we may see a small bump upward sometime within the next few days.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***